Furniture, exports held up in the first six months, but the unknown factor of tariffs weighed heavily
Sales dropped by 1% between January and June. France and Germany fell, while the US held up but dropped 7.7% in July.
Key points
Looking at the data for the first six months of the year, the export situation for the wood-furniture supply chain still seems to be holding up. Of course, there is an overall drop of 1% (for a total of almost 9.7 billion euros exported between January and June), but Italian design companies remain competitive on the international scene and even the United States still registers a positive figure (+1.2%). And while the difficulties of two of the main outlet markets for Italian wood-furniture remain - with France registering -5.7% compared to the first six months of 2024 and Germany -3.2% - other countries are raising their heads, such as the United Kingdom (+3.7%), the sector's fourth destination, and Spain (+2.9%), the fifth destination, as well as the Netherlands (+4.6%) and the United Arab Emirates (+5.6%), which recently entered the top ten of the main reference markets.
The scenario for the coming months
.Things, however, are changing very quickly, as explained by the president of FederlegnoArredo, Claudio Feltrin, who in commenting on the Infodata figures (elaborations of the Fla study centre based on ISTAT) does not hide his fears for the second half of the year, mainly due to the possible effects of US tariffs affecting the second most important market for the sector, with 1.7 billion euro in 2024.
There are two main elements that worry companies: the first concerns the overall trend of Italian exports, which in June had recorded a definite +4.9% on an annual basis, with +5.2% for non-EU countries. This latter figure had already reversed in August to a heavy -7.7%, dragged down by a 21% thud towards the United States. The second element specifically concerns the furniture sector, whose sales to the United States grew in the first quarter of the year, probably due to a hoarding of stocks, prior to the introduction of tariffs, by importers, but already in the first six months as a whole they marked a -1.2% and, in July compared to July 2024, they recorded a drop of 7.7%.
The effects of Trump's tariffs
"Even before their actual entry into force, Trump's tariffs have already had their negative effects," notes Feltrin, who adds: "We will see in the coming months whether this is the trigger signal for a negative trend or whether it was a setback in the weeks when the US president came out with his announcements.
Announcements that generate confusion and uncertainty among businesses and curb investment. Not least Trump's statements last week, when he announced tariffs of 50% and even 100% on certain types of furniture as of 1 October. Except that he then specified - through his officials - that these tariffs would not affect countries with which agreements have already been signed (thus including the European Union), but competitors such as China and Vietnam or other nations that do triangular trade with these countries.
